Save Article

Brazil's Central Bank Intervenes
In Foreign-Exchange Markets

By

Jamie McGeever Dow Jones Newswires

Updated Feb. 25, 1999 12:43 p.m. ET

RIO DE JANEIRO -- The Brazilian central bank waded back into foreign-exchange markets for the first time since it free-floated the currency more than a month ago, intervening for two days running to steady the real.

The interventions began Tuesday when the real weakened as far as 2.08 to the dollar, prompting the monetary authority to sell a small amount of dollars -- around $30 million, according to market estimates -- for the first...